Financial Daily from THE HINDU group of publications
Tuesday, Sep 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 09, 2003 |
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Info-Tech
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Preferential Allotments Color Chips plans pref issue Our Bureau
HYDERABAD: Color Chips (India) Ltd (CCIL), the Hyderabad-based animation and software solutions provider, has informed the stock exchanges on Monday that its board has approved proposals for allotment of shares on a preferential basis, rights basis and to split the shares. The CCIL board has approved a proposal for the issue of 40-lakh warrants to the promoters. These warrants would be convertible into equity shares at a later date in accordance with the SEBI guidelines. The board has also considered and approved a proposal for sub-division of the equity shares of face value of Rs 10 each into equity shares of face value of Re 1 each. Following this, the company has decided to seek the approval of its shareholders for these proposals at the ensuring annual general meeting scheduled for September 30. A proposal for the issue of equity shares on rights basis in accordance the resolution passed at the extraordinary general meeting held on August 18 was also considered by the board. Further, according to the CCIL Company Secretary, Ms Pallavi Hegde, the board has allotted 30-lakh equity shares at par for cash on preferential basis. - Our Bureau
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